🌍It was definitely an intensive and important week at the COP29 Azerbaijan! We are excited to share some insights, as some of the main topics were the financing and the scalability of climate solutions, resonated deeply as we shift the climate narrative from understanding the problem to implementing solutions. 1. Innovation is Key: 45% of long-term carbon abatement technologies are still in early innovation stages. 2. The Challenge of Using Recycled Plastics due to contamination in the waste stream, limiting the quality of recycled materials. 3. Demand Outpacing Supply: By 2040, demand for recycled plastic will exceed 50% of available supply. It’s clear we need new approaches and we cannot go forward with yesterday’s solutions. 🌱 TextRe’s Approach: 1. We help companies decarbonize by providing viable, scalable solutions using recycled materials. 2. Addressing those challenges this by understanding the need to unlock additional feedstocks to meet future demand. We do that by leveraging cleaner feedstock from other industry - textiles - and creating a seamless, scalable solution. 3. We’re focused on pragmatic innovation, ensuring industries like plastics and textiles - sectors that aren’t going anywhere - can seamlessly transition toward sustainability. 💡Our process ensures businesses remain competitive while reducing their environmental impact. It’s time for all companies to take this transition seriously. Leading brands are already paying taxes on virgin plastics, with a growing push to adopt sustainable alternatives. Companies that respect themselves cannot afford to stay behind and think of this as just a trend. Transitioning to recycled materials is the future - and TextRe is here to make that future possible. Let’s move beyond the why and scale the how and now, as it was clearly delivered by McKinsey.
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